Barclays Forecasts Strong Price Appreciation for New York Times (NYSE:NYT) Stock

by · The Cerbat Gem

New York Times (NYSE:NYT – Get Free Report) had its price objective boosted by Barclays from $52.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 8.00% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Guggenheim boosted their target price on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Evercore ISI boosted their target price on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Morgan Stanley upped their price target on New York Times from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.00.

View Our Latest Stock Analysis on New York Times

New York Times Stock Performance

NYT stock traded up $2.17 during trading on Thursday, hitting $59.78. The stock had a trading volume of 387,616 shares, compared to its average volume of 1,720,163. The company’s 50 day moving average price is $57.30 and its two-hundred day moving average price is $55.92. New York Times has a 1-year low of $44.83 and a 1-year high of $62.24. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The company had revenue of $700.82 million during the quarter, compared to the consensus estimate of $692.01 million. During the same quarter in the prior year, the company posted $0.45 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that New York Times will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president directly owned 14,470 shares of the company’s stock, valued at $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New York Times

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versor Investments LP boosted its position in shares of New York Times by 37.8% in the 3rd quarter. Versor Investments LP now owns 10,098 shares of the company’s stock valued at $580,000 after purchasing an additional 2,770 shares during the period. Profund Advisors LLC acquired a new position in shares of New York Times in the 3rd quarter valued at $213,000. AdvisorShares Investments LLC boosted its position in shares of New York Times by 11.1% in the 3rd quarter. AdvisorShares Investments LLC now owns 8,879 shares of the company’s stock valued at $510,000 after purchasing an additional 888 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of New York Times by 60.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,457 shares of the company’s stock valued at $84,000 after purchasing an additional 547 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of New York Times by 6.5% in the 3rd quarter. Alps Advisors Inc. now owns 276,050 shares of the company’s stock valued at $15,845,000 after purchasing an additional 16,936 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

About New York Times

(Get Free Report)

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.

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